M&A Deal Summary

Network Connex Acquires Advantage Engineers

On April 15, 2021, Network Connex acquired communications company Advantage Engineers from Patriot Capital and First Capital Partners

Acquisition Highlights
  • This is Network Connex’s 2nd transaction in the Communications sector.
  • This is Network Connex’s 5th transaction in the United States.
  • This is Network Connex’s 1st transaction in Maryland.

M&A Deal Summary
Date 2021-04-15
Target Advantage Engineers
Sector Communications
Buyer(s) Network Connex
Sellers(s) Patriot Capital
First Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Truist Securities (Financial)

Target

Advantage Engineers

Columbia, Maryland, United States
Advantage Engineers LLC specialized in telecommunications, environmental and geotechnical engineering and consulting services for various end markets. Services offered include, but are not limited to, telecom site acquisition and engineering, laboratory and material testing, design and construction phase investigations and site assessments. Advantage Engineers was founded in 2001 and is based in Mechanicsburg, Pennsylvania.

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Buyer(S) 1

Buyer

Network Connex

Downers Grove, Illinois, United States
Category Company
Sector Information Technology
DESCRIPTION

Network Connex is a provider of mission-critical network deployment solutions in fiber optics, data centers, wireless, and video networks. NTI Connect is based in West Chicago, Illinois.

DEAL STATS #
Overall 5 of 5
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 5 of 5
State (Maryland) 1 of 1
Country (United States) 5 of 5
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-24 Precision Design Services

Morris Plain, New Jersey, United States

Precision Design Services, Inc. provides design, engineering, and project management for telecommunications and data communications systems. Precision Design Services is based in Morris Plain, New Jersey.

Buy -

Seller(S) 2

SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.

DEAL STATS #
Overall 40 of 50
Sector (Communications) 3 of 4
Type (Add-on Acquisition) 24 of 29
State (Maryland) 6 of 7
Country (United States) 40 of 50
Year (2021) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-03 eServices

Glen Allen, Virginia, United States

eServices is an energy management company servicing the natural gas needs of marketers, utilities, small and mid-sized commercial/industrial firms, and producers in the Southeast and mid-Atlantic regions of the United States. eServices was founded in 2008 and is based in Glen Allen, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 American Equipment

Salt Lake City, Utah, United States

American Equipment is a distributor of overhead cranes and hoists. American Equipment is based in Salt Lake City, Utah.

Buy -
SELLER

First Capital Partners

Omaha, Nebraska, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2006
PE ASSETS 241M USD
Size Small
Type Sector Agnostic
DESCRIPTION

First Capital Partners is an Omaha, Nebraska-based private investment firm that provides equity and subordinated debt financing to lower middle-market companies. First targets businesses with revenues of $10 to $100 million and EBITDA up to $10 million. Investments are generally used to fund management buyouts, growth capital financings, recapitalizations, divestitures, and generational transfers of ownership. Broad areas of interest include manufacturing, business services, and value-added distribution. First Capital will not invest in startups, early stage companies, high technology, real estate, or retail. First Capital Partners is based in US.

DEAL STATS #
Overall 10 of 15
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 6 of 8
State (Maryland) 1 of 2
Country (United States) 10 of 15
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 ZEVAC

Tulsa, Oklahoma, United States

ZEVAC manufactures, sells and rents equipment to large utilities and pipeline operators to perform regulatory-mandated and routine maintenance services. ZEVAC is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-29 QCC

Harwood Heights, Illinois, United States

QCC is a manufacturing services provider specializing in the manufacture, assembly, and testing of complete products and assemblies, as well as precision-machined components for aerospace, diesel fuel systems, medical, defense, and fluid power applications. QCC was founded in 1951 and is based in Harwood Heights, Illinois.

Sell -
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